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How are Companies making money from Big Data?

  • 13-08-2014 9:04pm
    #1
    Registered Users Posts: 77 ✭✭


    Hi,

    So over the past 12 months it seems big data is the way forward and in my opinion a great direction for companies to go. I can see many ways of using "Big Data" internally in Financial Services companies in areas such as TA,FA etc and these will undoubtedly streamline the functions across all companies such as Citi, Statestreet and Bony to name a few.

    My question is how are these companies making additional revenue to offset the cost of upgrading their IT ? Does anyone have any experience where clients are actually paying for products derived from "Big Data"?

    Cheers
    S


Comments

  • Closed Accounts Posts: 8,061 ✭✭✭keith16


    Some customer behaviour models derived from big data type analysis can have huge benefits.

    I'm not sure that cost of hard resources is the issue, more the cost and scarcity of human resources in this area.


  • Registered Users Posts: 1,394 ✭✭✭Sheldons Brain


    keith16 wrote: »
    I'm not sure that cost of hard resources is the issue, more the cost and scarcity of human resources in this area.

    Exactly. IT gets cheaper, people don't, especially people with these skills.


  • Closed Accounts Posts: 3,596 ✭✭✭threein99


    Companies extract patterns from big data which they can use to to push products in certain areas.


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